Salim wealth gets boost from Philippine firms – ForbesMANILA, Philippines — Tycoon Anthoni Salim, chairman of Hong Kong-listed investment holding firm First Pacific, took fifth place in Forbes’ list of Indonesia’s 50 richest, thanks to strong contributions from his Philippine businesses. Aside from mining, Salim is also aggressively expanding his infrastructure play through listed toll road operator, Nusantara Infrastructure, Forbes said. “A consortium led by Salim’s Hong Kong-listed firm First Pacific took the infrastructure company’s Philippine parent, Metro Pacific Investments, private in October, acquiring a 19 percent stake for $500 million. His First Pacific has stakes in PLDT, Metro Pacific Investments Corp., Manila Electric Co., PacificLightPower, Maynilad, Metro Pacific Tollways, Philex Mining Corp. and PXP Energy. PLDT, meanwhile, reported a nine-month net income of P27.88 billion, up by one percent as the company continuously increased revenue while cutting costs.

Source: Forbes December 10, 2023 19:05 UTC